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How We Get Tricked Into Buying Expensive Wine Even If It's Not As Good

The Truth Finally Revealed

PrintJoel Balsam

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When you go to the wine store, how do you decide on a bottle? Me, I just go with a type I like and maybe take the coolness of the bottle under consideration (if we're being honest here). Mainly though, I pick what fits in my price range. If it's a special occasion, I'll get something more expensive. If I'm just trying to get hammered I'll get something cheap, but I don't expect to enjoy it. Apparently I'm not alone in judging wine based on price.

An interesting short video published by Business Insiderexplains that we think wine is better when it's more expensive -- even if it's not actually that good.

The video's host had people try two bottles of wine, one priced more expensive than the other, then asked which one they liked better. After that, the host asked a new group to try the same wines, but flipped the prices. In general, most people said the pricier wine was better.

Adam Grant, Professor of Management and Psychology at the University of Pennsylvania’s Wharton School, says in the video that this result proves we judge quality based on price. This is called the "pricing effect" and it also becomes clear with products including pharmaceuticals and jewelry. So when companies want to sell a product judged for its quality, it might want to raise the price instead of lowering it to convince people it's good.

I think that makes sense in some cases, but not all. Some cheap wines are actually just worse, and vice versa. And I'm positive that some people just go for what's on sale because it's on sale.

Here's an idea: Why not just label wines with more accurate information than vague descriptions like 'hints of blue sky' or whatever. My local wine shop indicates whether the wine is sweet or heavy, etc. That helps, but more information could definitely be more useful in my humble opinion.